Wellington, April 27 NZPA - Sharemarket operator NZX lifted first quarter net profit 40 percent from a year earlier to $3.04 million, despite turmoil in world financial markets.

Chief executive Mark Weldon said the result was due to the success of the company's strategy.

That strategy included strengthening the core NZX markets, cementing a broader integrated base from which to grow, and continuing to reshape the NZX business.

For the three months to the end of March operating revenue was up 7 percent from a year earlier to $8.6m, while operating expenditure was barely changed at $4.3m.

NZX said it saw momentum returning and had a positive outlook.

Indicators behind that outlook included the fact a record $1.36 billion capital was raised in the March quarter including significant secondary equity.

Also, average trades in March were the best year-to-date, and NZX market data revenues and sales had remained stronger than peer exchanges.

For the NZX Markets Business operating revenues were up 5 percent from a year before to $7.7m in the latest quarter.

That included a 39 percent rise in information businesses' revenue to $3.9m , but total listings revenue was down 17 percent to $1.8m, while trading, clearing and settlement revenue dropped 15 percent to $905,000.

Average daily trade numbers in March were 2112, the highest since last October, though for the whole quarter the 1913 daily average trades was down 9 percent on a year earlier.

The total value traded in the quarter of $5.14b was down 29 percent.

NZX said a go-live date of November 20 had been set for its new Clearing House, enabling futures and commodities markets to be launched this year.

In the three months to March, NZX subsidiary Smartshares, which manages exchange traded funds, had a 46 percent decrease in operating earnings before interest, tax, depreciation and amortisation (ebitda) to $99,000.

That reflected the impact of falls in index values evident in revenues during the period.

NZX shares were up 5c to $6.65 after about an hour of trading.

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